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It appears I'm not alone with the providian/chase closing of THE CARD! I came here to kinda vent my livid feelings, but after reading this thread, I feel calmer.
I'm confused still though by the effects on your credit score by a bank closing your CC. I understand the trade lines being lowered, but what if the card that was closed was your oldest card? I assume that must be pretty detrimental to your overall credit picture?
Also, should I expect my other chase card, a former wamu, to be the next to go?
I have so many issues with the way this whole system is set up with credit & loans, I'm allmost numb. I would have thought never paying late and paying more than the minimum should have sufficed.
It's really unfortunate that something like a FICO score is what matters most in this day and age, yet you have such limited control over it unless you started out with a clean slate and were born with some innate knowledge of the latest small print!
Ah well, it is a crazy time we live in. I myself want to speak to this Fair Issac guy & let him have a piece of my mind! Not much seems fair about toeing the line and doing the right thing when all you get is stressed out and penalized.
I must go find my happy place...
*cheers*
Butters, hope you found your happy place by now. With everything going on w/credit companies/banks, it's hard to find sometimes.
You will always find people who post their opinions and many say different things..no one agrees all the time, but you will also find out that you are not alone. I have worked over the years to get our score up as fast as I could and I did it after reading bankrate.com and some info off of here. Good Luck!
Wow. I figured their were a few other people who could be in the same boat as me but I didn't realize it was 3 million plus. Former Wamu here, and they gave me the same BS reason AFTER I HAD TO CALL THEM. One day after going through the grocery store I went to pay and well what do you know - "Sorry sir the transaction was declined." I leave my bank card at home, and I don't cary a check book. I had to pull my cart over to a out of the way location and leave feeling a bit humilliated.
After calling them I was told that my account had been cancelled a week prior. No emails, no letter, nothing. Just out of the blue.
I was also a Wamu Banking customer. Here is my solution, and an expression of my impotent rage: I found a new bank that has comprable benefits to what was Wamu, and I'm opening an account with them. I am NOT going to close my Chase Bank account, but I am going to withdraw all but $.02 from my Checking and Savings account (their literature still says no minimum balance). And every month I expect to recieve a paper stament mailed, by US Post which I believe is $.42 in postage, to me showing me that my $.02 is still being acknowledged. In order to avoid them closing the account for inactivity, once a month I will transfer $.01 from my savings to checking, then the next month I will transfer $.01 from my checking to my saving. Repeat ad infnitum. And if I do not recieve my monthly statment every month I will call them and RAAAGGGEEE.
@Anonymous wrote:
I was also a Wamu Banking customer. Here is my solution, and an expression of my impotent rage: I found a new bank that has comprable benefits to what was Wamu, and I'm opening an account with them. I am NOT going to close my Chase Bank account, but I am going to withdraw all but $.02 from my Checking and Savings account (their literature still says no minimum balance). And every month I expect to recieve a paper stament mailed, by US Post which I believe is $.42 in postage, to me showing me that my $.02 is still being acknowledged. In order to avoid them closing the account for inactivity, once a month I will transfer $.01 from my savings to checking, then the next month I will transfer $.01 from my checking to my saving. Repeat ad infnitum. And if I do not recieve my monthly statment every month I will call them and RAAAGGGEEE.
Standard mail costs 33 cents. The printing of the statements costs a few more cents.
With all your intentions, I must ask...why?
Your life will be much happier if you view it as a significant other ending their relationship with you and you just going on.
You found a better nicer bank.
be happy.
Plus..I have never seen an online banking program that let me transfer less then dollar amounts. And at some point your ruse will be noted and they will close the account.
Just be happy, you got another bank....
Standard mail costs 33 cents.
I thought it had gone up. I rarely ever mail anything.
With all your intentions, I must ask...why?
Your life will be much happier if you view it as a significant other ending their relationship with you and you just going on.
Seems petty doesn't it? But to answer your question - principal. General principal. I have no other way of protesting what I believe was a stupid act and the dishonest justification of it. Unlike a significant other, I've never had any kind of love at all for Chase. As for my happyness, this has no real bering on it. I don't sit around and seeth over it. But I will protest. Even if my protest seems petty and is ultimately insignificant.
Plus..I have never seen an online banking program that let me transfer less then dollar amounts. And at some point your ruse will be noted and they will close the account.
Darn it. I just checked & turns out you're right. I guess I didn't think my cunning plan all the way through! Oh well. I'll continue receiveing my statments untill they close the account for inactivity, at which time I will expect my 2 cents returned to me in the form of a check! A fitting end.
@Anonymous wrote:Standard mail costs 33 cents.
I thought it had gone up. I rarely ever mail anything.
With all your intentions, I must ask...why?Your life will be much happier if you view it as a significant other ending their relationship with you and you just going on.
Seems petty doesn't it? But to answer your question - principal. General principal. I have no other way of protesting what I believe was a stupid act and the dishonest justification of it. Unlike a significant other, I've never had any kind of love at all for Chase. As for my happyness, this has no real bering on it. I don't sit around and seeth over it. But I will protest. Even if my protest seems petty and is ultimately insignificant.
Plus..I have never seen an online banking program that let me transfer less then dollar amounts. And at some point your ruse will be noted and they will close the account.
Darn it. I just checked & turns out you're right. I guess I didn't think my cunning plan all the way through! Oh well. I'll continue receiveing my statments untill they close the account for inactivity, at which time I will expect my 2 cents returned to me in the form of a check! A fitting end.
Don't count on it.
Anonms, You made me smile with the details of your protest. It could still work, just use $2 instead of 2 cents, and transfer that dollar back and forth, maybe you could set up an automated tranfer? I get that it's not the same as leaving them with "your two cents" but well... it's fun to think about.
My sister and DH had their Chase cards cancelled in the first part of July. I am waiting for my turn so I only use the Chase at gas pumps and other places where I won't get a human denial. I also spent all the Chase flexible rewards I had accumulated because I read that someone had a bunch of points and after the card was cancelled, they couldn't use them anymore.
@RachelRachel wrote:Anonms, You made me smile with the details of your protest. It could still work, just use $2 instead of 2 cents, and transfer that dollar back and forth, maybe you could set up an automated tranfer? I get that it's not the same as leaving them with "your two cents" but well... it's fun to think about.
My sister and DH had their Chase cards cancelled in the first part of July. I am waiting for my turn so I only use the Chase at gas pumps and other places where I won't get a human denial. I also spent all the Chase flexible rewards I had accumulated because I read that someone had a bunch of points and after the card was cancelled, they couldn't use them anymore.
Smart move. Once the account is closed the rewards are toast.
I wonder how many small charges Chase is picking up from people using their cards just to test it they are still open. If I am any example the answer is a lot!